HOME Investment Partnerships Program Administrative Draws and - PowerPoint PPT Presentation

HOME Investment Partnerships Program Administrative Draws and Project Completion Reporting Administered by Because there’s no place like HOME.

What are Administrative Costs? Because there’s no place like HOME. � Administrative costs include expenditures that are necessary for the overall administration of the HOME Program which are not incurred for a specific project: � Salaries, wages, and related costs specific to actual work performed directly on the HOME Program � Training and travel costs specifically related to the HOME Program � Consultant services performed under a 3 rd party contract (i.e. consulting agreement) specific to administration of the HOME Program � Goods and services (prorated for the portion specific to the HOME Program): � Equipment and office supplies � Insurance � Utilities � Rental and maintenance (but not purchase) of an office space Administrative Draw Workbook & 2 PCR Process - December, 2012

Administrative Limitations by Activity Types Because there’s no place like HOME. Homeowner Rehabilitation (HRA) Homebuyer Assistance (with/without Rehabilitation) (HBA) Contract For Deed Conversion (CFDC) � Administrative funds are awarded on a per-project basis based on 4% of project hard costs Tenant-Based Rental Assistance (TBRA) � Administrative funds are awarded on a per-project basis based on 8% of project hard costs Administrative Draw Workbook & 3 PCR Process - December, 2012

Administrative Limitations by Rule Year Because there’s no place like HOME. 2010 Rules: � Allows an upfront Administrative draw request � HRA, HBA, CFDC – upfront Administrative draw is limited to 10% � TBRA – upfront Administrative draw is limited to 25% � Subsequent draws must be proportionate to the amount of all project hard costs drawn to-date 2012 Rules: � HRA, HBA, CFDC – NO upfront draw is permitted � TBRA – upfront Administrative draw is limited to 25% ( no change ) � Subsequent draws must be proportionate to the amount of all project hard costs drawn to-date ( no change ) Administrative Draw Workbook & 4 PCR Process - December, 2012

Introduction to the Administrative Draw Workbook Because there’s no place like HOME. � Administrative Draw Workbook is an Excel spreadsheet which: � Compiles Administrative cost data per project; and � Calculates the amount of Administrative funds currently available to be drawn, subject to the applicable limitations � Administrative Draw Workbook must be submitted with each Administrative draw request � Costs must be supported by documentation (invoices, time sheets, etc.) � Administrative Draw Workbook is available online at: http://www.tdhca.state.tx.us/home-division/forms/home_forms_hra.htm Administrative Draw Workbook & 5 PCR Process - December, 2012

Completing the Administrative Draw Workbook Because there’s no place like HOME. � Open the Administrative Draw Workbook Excel document � Click appropriate tab (at bottom of the Workbook page): � Instructions – Disbursements � Allowed Funding Amount � Draw Request Log Administrative Draw Workbook & 6 PCR Process - December, 2012

"Allowed Funding Amount" Tab Because there’s no place like HOME. � Contract/Reservation Number - Enter the 7-digit Contract/Reservation number from the online Contract Database (CDB) System. � Rule Year - Using the drop-down menu, select the applicable Rule year. � Activity Type (HRA, HBA, CFDC, or TBRA) - Using the drop-down menu, select the appropriate Activity. Administrative Draw Workbook & 7 PCR Process - December, 2012

"Allowed Funding Amount" Tab Because there’s no place like HOME. � Admin Previously Drawn – The Workbook automatically tallies any Administrative draws previously entered in this Workbook and self-populates this field. � Admin Request Number – Using the drop-down menu, enter the number of the Administrative draw request being submitted. The Administrative Draw Workbook accommodates up to 12 draws. If additional requests are required, please seek assistance from your Performance Specialist. Administrative Draw Workbook & 8 PCR Process - December, 2012

"Allowed Funding Amount" Tab Because there’s no place like HOME. � Admin Available for Draw – The Workbook automatically deducts the Administrative funds previously drawn from the proportionate Administrative funds and self-populates the field. � Admin Request Amount – The Workbook self-populates this field based on the draw amounts entered in the “Draw Request Log” tab. If this field turns RED , the requested Administrative funds entered in the “Draw Request Log” must be reduced. Administrative Draw Workbook & 9 PCR Process - December, 2012

Administrative Draw Workbook: Column A Because there’s no place like HOME. � Column A: Project Number � Enter the Project Number for each approved project entered in the CDB. If additional projects have been setup since the previous draw request was submitted, update this column with the new project information so that the Administrative Draw Workbook includes all the active projects. Administrative Draw Workbook & 10 PCR Process - December, 2012

Administrative Draw Workbook: Column B Because there’s no place like HOME. � Column B: Project Hard Costs � Enter the budgeted project hard costs for each approved project listed in Column A. Administrative Draw Workbook & 11 PCR Process - December, 2012

Administrative Draw Workbook: Column C & D Because there’s no place like HOME. � Column C: Total Allowed Administrative Funds � This column calculates and self-populates the amount of Administrative funds allowed for each project based on rule year, activity type, and HOME project hard costs. � Column D: Upfront Draw Limit � 2010 Rules - This column calculates and self-populates 10% (for HRA, CFDC, and HBA) or 25% (for TBRA) of budgeted Administrative funds, which is the maximum amount that may be drawn upfront prior to expenditure of project funds. � 2012 Rules –Upfront Administrative draws are not permitted under 2012 Rules. Administrative draws cannot be disbursed until after project hard costs have been drawn. Administrative Draw Workbook & 12 PCR Process - December, 2012

Administrative Draw Workbook: Column E & F Because there’s no place like HOME. � Column E: Project Hard Cost Drawn to Date � For each approved project entered in Column A, enter the hard costs drawn to-date. This amount must be updated with each subsequent Administrative draw request to maximize the amount of Administrative funds available for draw. � Column F: Number of Project Draws to-Date � Enter the number of Project Draws previously approved as of the date of the Administrative funds draw. Administrative Draw Workbook & 13 PCR Process - December, 2012

Administrative Draw Workbook: Column E & F Because there’s no place like HOME. 0 0 Administrative Draw Workbook & 14 PCR Process - December, 2012

Administrative Draw Workbook: Column G, H & I Because there’s no place like HOME. � Column G: Percentage of Project Funds Expended � This column calculates and self-populates the percentage of hard costs drawn to-date by dividing the amount of hard costs drawn (Column E) by the budgeted hard costs (Column B). � Column H: Available Admin based on Expenditure � This column calculates and self-populates the proportionate amount of Administrative funds available by multiplying the percentage of project funds expended (Column G) by the total allowed Administrative funds (Column C). � Column I: Max Available to Draw � This column calculates and self-populates the greater of the upfront draw limit (Column D) or the Administrative funds available based on expenditure (Column H). The amounts in Column I are tallied to determine the total amount of administrative funds that may be drawn for this Contract/Reservation to-date. Administrative funds previously drawn are NOT deducted from this column. Administrative Draw Workbook & 15 PCR Process - December, 2012

"Draw Request Log" Tab Because there’s no place like HOME. � Draw Request Number – The Administrative Draw Workbook accommodates up to 12 Administrative draws. If additional requests are required, please seek assistance from your Performance Specialist. � Draw Request Date – Enter the date on which the Administrative draw request is to be submitted. � Cost Incurred – Enter the total amount of the Administrative draw being requested. Administrative Draw Workbook & 16 PCR Process - December, 2012

"Draw Request Log" Tab Because there’s no place like HOME. Administrative Draw Workbook & 17 PCR Process - December, 2012

Verifying the Draw Amount Because there’s no place like HOME. � The Administrative Draw Workbook tallies the total amount being requested for the draw number in the “Draw Request Log” and self-populates the Admin Request Amount field in the “Allowed Funding Amount” tab � Return to the “Allowed Funding Amount” tab to verify the amount being requested is in compliance with draw limitations � If the Admin Request Amount exceeds the amount available to be drawn, the Admin Available for Draw field will turn RED . � Reduce the amount being requested in the Draw Request Log tab. Administrative Draw Workbook & 18 PCR Process - December, 2012